Natural gas prices in Europe had the longest streak of weekly gains this year as a prolonged shutdown of a key export facility in the US further tightens a market that’s already reeling from Moscow’s supply cuts.
Benchmark futures rose as much as 6.1% to advance for a third week. The Freeport LNG project now plans to resume partial operations in October, a month later than previously expected. It’ll put further strain on European companies and governments to secure enough supply to fill storage sites in time for winter, while continuing to fight off the risk of blackouts.
